2022-06-012023-05-312023-05-31falseSC631042GEEK GEAR LTD2024-02-19iso4217:GBPxbrli:pureSC6310422022-06-01SC6310422023-05-31SC6310422022-06-012023-05-31SC6310422021-06-01SC6310422022-05-31SC6310422021-06-012022-05-31SC631042bus:SmallEntities2022-06-012023-05-31SC631042bus:AuditExempt-NoAccountantsReport2022-06-012023-05-31SC631042bus:AbridgedAccounts2022-06-012023-05-31SC631042bus:PrivateLimitedCompanyLtd2022-06-012023-05-31SC631042core:WithinOneYear2023-05-31SC631042core:AfterOneYear2023-05-31SC631042core:WithinOneYear2022-05-31SC631042core:AfterOneYear2022-05-31SC631042core:ShareCapital2023-05-31SC631042core:SharePremium2023-05-31SC631042core:RevaluationReserve2023-05-31SC631042core:OtherReservesSubtotal2023-05-31SC631042core:RetainedEarningsAccumulatedLosses2023-05-31SC631042core:ShareCapital2022-05-31SC631042core:SharePremium2022-05-31SC631042core:RevaluationReserve2022-05-31SC631042core:OtherReservesSubtotal2022-05-31SC631042core:RetainedEarningsAccumulatedLosses2022-05-31SC631042core:LandBuildings2023-05-31SC631042core:PlantMachinery2023-05-31SC631042core:Vehicles2023-05-31SC631042core:FurnitureFittings2023-05-31SC631042core:OfficeEquipment2023-05-31SC631042core:NetGoodwill2023-05-31SC631042core:IntangibleAssetsOtherThanGoodwill2023-05-31SC631042core:ListedExchangeTraded2023-05-31SC631042core:UnlistedNon-exchangeTraded2023-05-31SC631042core:LandBuildings2022-05-31SC631042core:PlantMachinery2022-05-31SC631042core:Vehicles2022-05-31SC631042core:FurnitureFittings2022-05-31SC631042core:OfficeEquipment2022-05-31SC631042core:NetGoodwill2022-05-31SC631042core:IntangibleAssetsOtherThanGoodwill2022-05-31SC631042core:ListedExchangeTraded2022-05-31SC631042core:UnlistedNon-exchangeTraded2022-05-31SC631042core:LandBuildings2022-06-012023-05-31SC631042core:PlantMachinery2022-06-012023-05-31SC631042core:Vehicles2022-06-012023-05-31SC631042core:FurnitureFittings2022-06-012023-05-31SC631042core:OfficeEquipment2022-06-012023-05-31SC631042core:NetGoodwill2022-06-012023-05-31SC631042core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-31SC631042core:ListedExchangeTraded2022-06-012023-05-31SC631042core:UnlistedNon-exchangeTraded2022-06-012023-05-31SC631042core:MoreThanFiveYears2022-06-012023-05-31SC631042core:Non-currentFinancialInstruments2023-05-31SC631042core:Non-currentFinancialInstruments2022-05-31SC631042dpl:CostSales2022-06-012023-05-31SC631042dpl:DistributionCosts2022-06-012023-05-31SC631042core:LandBuildings2022-06-012023-05-31SC631042core:PlantMachinery2022-06-012023-05-31SC631042core:Vehicles2022-06-012023-05-31SC631042core:FurnitureFittings2022-06-012023-05-31SC631042core:OfficeEquipment2022-06-012023-05-31SC631042dpl:AdministrativeExpenses2022-06-012023-05-31SC631042core:NetGoodwill2022-06-012023-05-31SC631042core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-31SC631042dpl:GroupUndertakings2022-06-012023-05-31SC631042dpl:ParticipatingInterests2022-06-012023-05-31SC631042dpl:GroupUndertakingscore:ListedExchangeTraded2022-06-012023-05-31SC631042core:ListedExchangeTraded2022-06-012023-05-31SC631042dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-06-012023-05-31SC631042core:UnlistedNon-exchangeTraded2022-06-012023-05-31SC631042dpl:CostSales2021-06-012022-05-31SC631042dpl:DistributionCosts2021-06-012022-05-31SC631042core:LandBuildings2021-06-012022-05-31SC631042core:PlantMachinery2021-06-012022-05-31SC631042core:Vehicles2021-06-012022-05-31SC631042core:FurnitureFittings2021-06-012022-05-31SC631042core:OfficeEquipment2021-06-012022-05-31SC631042dpl:AdministrativeExpenses2021-06-012022-05-31SC631042core:NetGoodwill2021-06-012022-05-31SC631042core:IntangibleAssetsOtherThanGoodwill2021-06-012022-05-31SC631042dpl:GroupUndertakings2021-06-012022-05-31SC631042dpl:ParticipatingInterests2021-06-012022-05-31SC631042dpl:GroupUndertakingscore:ListedExchangeTraded2021-06-012022-05-31SC631042core:ListedExchangeTraded2021-06-012022-05-31SC631042dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-06-012022-05-31SC631042core:UnlistedNon-exchangeTraded2021-06-012022-05-31SC631042core:NetGoodwill2023-05-31SC631042core:IntangibleAssetsOtherThanGoodwill2023-05-31SC631042core:LandBuildings2023-05-31SC631042core:PlantMachinery2023-05-31SC631042core:Vehicles2023-05-31SC631042core:FurnitureFittings2023-05-31SC631042core:OfficeEquipment2023-05-31SC631042core:AfterOneYear2023-05-31SC631042core:WithinOneYear2023-05-31SC631042core:ListedExchangeTraded2023-05-31SC631042core:UnlistedNon-exchangeTraded2023-05-31SC631042core:ShareCapital2023-05-31SC631042core:SharePremium2023-05-31SC631042core:RevaluationReserve2023-05-31SC631042core:OtherReservesSubtotal2023-05-31SC631042core:RetainedEarningsAccumulatedLosses2023-05-31SC631042core:NetGoodwill2022-05-31SC631042core:IntangibleAssetsOtherThanGoodwill2022-05-31SC631042core:LandBuildings2022-05-31SC631042core:PlantMachinery2022-05-31SC631042core:Vehicles2022-05-31SC631042core:FurnitureFittings2022-05-31SC631042core:OfficeEquipment2022-05-31SC631042core:AfterOneYear2022-05-31SC631042core:WithinOneYear2022-05-31SC631042core:ListedExch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GEEK GEAR LTD

Registered Number
SC631042
(Scotland)

Unaudited Financial Statements for the Year ended
31 May 2023

GEEK GEAR LTD
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

PRETSWELL, Simon Charles

Registered Address

42 Mote Hill
Hamilton
ML3 6EF

Registered Number

SC631042 (Scotland)
GEEK GEAR LTD
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets7-467
Tangible assets82,2264,290
2,2264,757
Current assets
Stocks2,50012,435
Debtors9151,4481,778
Cash at bank and on hand82,899289,487
236,847303,700
Creditors amounts falling due within one year1015,14836,577
Net current assets (liabilities)221,699267,123
Total assets less current liabilities223,925271,880
Creditors amounts falling due after one year-37,407
Net assets223,925234,473
Capital and reserves
Called up share capital11
Profit and loss account223,924234,472
Shareholders' funds223,925234,473
The financial statements were approved and authorised for issue by the Director on 19 February 2024, and are signed on its behalf by:
PRETSWELL, Simon Charles
Director
Registered Company No. SC631042
GEEK GEAR LTD
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is mail order and online retail.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year311
7.Intangible assets

Total

£
Cost or valuation
At 01 June 22140,000
At 31 May 23140,000
Amortisation and impairment
At 01 June 22139,533
Charge for year467
At 31 May 23140,000
Net book value
At 31 May 23-
At 31 May 22467
8.Property, plant and equipment

Total

£
Cost or valuation
At 01 June 2210,316
At 31 May 2310,316
Depreciation and impairment
At 01 June 226,026
Charge for year2,064
At 31 May 238,089
Net book value
At 31 May 232,226
At 31 May 224,290
9.Debtors

2023

2022

££
Trade debtors / trade receivables1,1731,243
Amounts owed by associates and joint ventures / participating interests150,000-
Other debtors275-
Prepayments and accrued income-535
Total151,4481,778
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables6598,770
Bank borrowings and overdrafts-10,072
Taxation and social security13,58316,829
Other creditors906906
Total15,14836,577
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.